American bid approach for Ushers
Saturday 06 June 1998
Ushers floated at 110p a share last March but its first year's plans were shattered by the loss of the contract to brew for Scottish & Newcastle, which accounted for a third of its contract brewing.
Sales have been only partially recouped by the deal to brew for its neighbour Gibbs Mew, which closed its own brewery last year. The shares slumped to a low of 70p following a profit warning and only recently struggled back to 90p helped by plans for share buy-backs.
Yesterday they leapt 25.5p to 127.5p in the hope of a bid at 130p, believed to be from Alchemy, a US-based venture capital group. It would value the group, which has 128 pubs and recently bought some hotels, at pounds 127m and the shares around 12 times earnings. Schroder Venture Funds hold 28 per cent of the company and SBC funds a further 20 per cent.
The approaches triggered a round of broker recommendations yesterday. Panmure Gordon issued buy notes on both Greenalls and Ushers, ABN Amro recommended Greene King and Greenalls, Cazenove advised clients to buy Youngs and Greenalls, Teather & Greenwood favoured Morlands, and another broker tipped Wolverhampton & Dudley as well as Greenalls.
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Perez Hilton apologises for Jennifer Lawrence naked photo leak
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Mexican woman becomes world’s 'oldest person' at 127
- 5 Jennifer Lawrence 'naked sex video' will be leaked threatens 4Chan celebrity photo hacker
Perez Hilton apologises for Jennifer Lawrence naked photo leak
Ariana Grande nude photos leak: 'These are completely fake' say singer's representatives
A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Israel to appropriate 400 hectares in West Bank for ‘state use’
Kate Upton nude pictures leak: Model's representatives 'looking into' authenticity of naked images
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
iJobs Money & Business
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...
£40000 - £50000 per annum: Harrington Starr: You will not be expected to hav...
£500 per day: Harrington Starr: SQL DBA/Developer SQL, C#, VBA, Data Warehousi...